December Market Update: Seattle + Eastside

view of street during daytime

Key takeaways for the month

  • Single-family homes in Seattle saw sale prices dip slightly month over month with the median dropping 1.25% from $790,000 to $773,000. However, prices landed 9% above December 2019, maintaining a gap we’ve seen since June. Median list price saw the same trend of a significant year-over-year gain despite a slight month-over-month dip. 
  • Median list price for Eastside single family homes rose month over month as sellers slightly overpriced homes as a strategy to get the most value during a time with less competition. A sale-to-list price ratio above 100% shows that this strategy worked. 
  • Climbing median days on market for single family homes both in Seattle and on the Eastside indicate a typical December slowdown while staying in line with the year-over-year trend of homes selling faster in 2020 than they did in 2019. 
  • Looking at the number of single family homes listed in December 2020 compared to the number at peak in August, we see an expected significant decrease in volume (-60% in Seattle and -65% on the Eastside). This annual low point in the market provided a chance for buyers who were willing to wait longer to find a home they love while there was less competition. January tends to continue this trend—fewer homes are listed, so it takes more time to find a good match, but when you do, you’ll likely be up against fewer other buyers. 

Competition snapshot

Our Research Team looked into sales in a select area for a snapshot of competitiveness in the local market.

Sale Price

Based on date the property sold.

List Price

Based on date the property was listed.

Sale Price Compared to List Price

Based on date the property sold.

Days on Market

Based on the number of days between the list date and the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Listed

Based on date the property was listed.

Number of Properties Pending Sale

Based on the date the property went pending, except when sold date is earlier than pending (then based on date sold).

Number of Properties Sold

Based on date the property sold.


Seattle includes data for the city of Seattle.

Eastside includes data for Redmond, Bellevue, and Kirkland.


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